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Monday, July 20, 2009

 

goldman's market call


via zero hedge, regarding goldman sachs' prominent market call of this morning.

... up until this point the firm has been at least slightly sensitive about catching marginal end buyers. Now the guns are blazing, and as all Wall Street professionals tongue-in-cheekly know all too well, a forceful upgrade is when any firm (Goldman most definitely included) starts to sell into a call (in this case its own). So buyers please beware: you are now implicitly buying the shares that Goldman and other brokers have been accumulating over the past 4 months.

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I am taking the goldman call as a contrarian indicator. Perhaps now people are starting to become really bullish about asset prices and the economy. We may have the final ingredient for an actual bear market sell-off, not a mere correction.

 
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